Massachusetts Financial Services Co. MA Boosts Stock Position in Public Service Enterprise Group Incorporated $PEG

Massachusetts Financial Services Co. MA boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.7% during the second quarter, Holdings Channel reports. The firm owned 4,125,698 shares of the utilities provider’s stock after acquiring an additional 465,570 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Public Service Enterprise Group were worth $347,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. GoalVest Advisory LLC lifted its stake in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at $32,000. Wealth Preservation Advisors LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at $33,000. Finally, Marshall & Sullivan Inc. WA bought a new position in Public Service Enterprise Group in the 2nd quarter worth $33,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $82.81 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $41.34 billion, a P/E ratio of 20.91, a PEG ratio of 2.46 and a beta of 0.55. The stock’s 50 day moving average is $82.16 and its 200 day moving average is $82.40.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PEG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Thursday. TD Cowen lifted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. UBS Group upped their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.19.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.